SNB starts issue of USD-denominated Tier 2 debt instruments

Logo of Saudi National Bank (SNB)

Saudi National Bank (SNB) started today, June 17, the issuance of US dollar-denominated Tier 2 debt instruments through a special purpose vehicle to qualified investors inside and outside the Kingdom, according to a statement to Tadawul.

 

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The final issuance value and offering terms will be determined based on market conditions.

 

Issuance Details

Type

US dollar-denominated Tier 2 debt instruments

Value

The final issuance value and offering terms will be determined based on market conditions.

Start of Issuance

June 17, 2025

End of Issuance

June 18, 2025

Target Investors

Qualified investors inside and outside Saudi Arabia

Issuance Manager

Abu Dhabi Commercial Bank (ADCB), DBS Bank, Emirates NBD, Goldman Sachs, HSBC, J.P. Morgan Securities, Mashreqbank, Mizuho International, SNB Capital, SMBC Nikko Capital Markets, and Standard Chartered Bank collectively as joint lead managers and joint bookrunners

Minimum Subscription Value

$200,000 and in increments of $1,000

Offering Price

Subject to market conditions

Par Value

$200,000

Return

Subject to market conditions

Maturity

Callable after 10 years

Terms of Redemption

The debt instruments may be redeemed in certain cases as detailed in the offering circular
 

The statement emphasized that the announcement does not constitute an invitation or offer to purchase, acquire, or subscribe to any securities.

 

SNB said it will disclose any material developments in due course, in accordance with applicable rules and regulations.

 

The debt instruments will be listed on the London Stock Exchange's International Securities Market. It may be sold under Regulation S of the US Securities Act of 1933, as amended.

 

The expected offering end date above is subject to market conditions.

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